Caterpillar, Inc. (NYSE:CAT) – $111.40 gained 2.2% after reporting higher than consensus fourth quarter earnings and after raising its 2012 guidance. The stock has a positive technical profile. Intermediate trend is up. The stock is testing its all-time high at $114.91. The stock trades above its 50 and 200 day moving averages. Yesterday, it completed a “Golden Cross” when its 50 day moving average moved above its 200 day moving average. Short term momentum indicators are overbought, but continue to trend higher. Strength relative to the S&P 500 Index has been positive since the beginning of October. Seasonal influences have just turned positive. Preferred strategy is to accumulate the stock at current or lower prices.

3M Co. (NYSE:MMM) – $87.87 added 1.6% after reporting slightly higher than consensus fourth quarter earnings. The stock has a positive technical profile. Intermediate trend is up. The stock recently broke above resistance at $82.80 to complete a reverse head and shoulders pattern. The stock trades above its 50 and 200 day moving averages. Strength relative to the S&P 500 Index has been positive since the end of October. Short term momentum indicators are overbought, but have yet to show signs of peaking. Seasonal influences have just turned positive. Preferred strategy is to accumulate the stock at current or lower prices.

AT&T, Inc. (NYSE:T) – $29.70 eased 1.7% after the company reported slightly lower than consensus fourth quarter earnings. The stock has a positive technical profile with short term concerns. Intermediate trend is up. The stock trades above its 50 and 200 day moving average. However, strength relative to the S&P 500 Index has been neutral since the beginning of October, its short term momentum indicators have rolled over from overbought levels and seasonal influences are negative until the end of February. Preferred strategy is to accumulate the stock on weakness closer to its 50 day moving average at $29.05.